Disney finance questions?

[Cerigirl]

I have just called GE and they have told me that it is an Unsecured loan - so no house needed!!!! Guess it may be secured on the points you buy!

 

[jen_uk]

Just wanted to say read the finance details carefully. DH and I bought into DVC in December, we used the available finance, planning to clear it this year from various sources.

However we found out that if we clear our loan then we have to pay back almost as much as we borrowed in fees etc. So we are now stuck with our loan for 10 years. It isn't a big monthly payment and it kept our money available for other things but it is irritating none the less.

Lesson - always read the small print

After we joined up I rang member services and spoke to someone in the finance dept and asked whether there were penalties for paying off quicker and they said there weren't. Plus when I go onto my DVC net, on my loan page it has the amount still owed and then below that it has the amount it would cost to pay it all off and it is only $30 more.

 

[doverfox]

jen
i dont think they lied to you, i think you will find it is the interest added to the principle that makes the difference depending on your loan ammount and interest rate our difference is $51.10
dave

 

[doverfox]

jen
i dont think they lied to you, i think you will find it is the interest added to the principle that makes the difference depending on your loan ammount and interest rate our difference is $51.10
dave